German battery-maker Moll is now scouting for potential investors to restructure its operations and finances, and remove itself from bankruptcy.

 

The company announced in a statement on June 18 that it had identified both, domestic and global investors who were interested in making the purchase. Moll’s insolvency lawyer has said that the company is looking for strong partner in its investor(s) to continue growing in the batteries industry.

 

The company was working at full steam before COVID-19 but filed for bankruptcy on March 30,2020. It cited a drastic drop in demand for lithium-ion (typ Li-ion) and lead acid batteries from car manufacturers who were suddenly forced to suspend operations. 

 

Moll said it continues to innovate in its business segment and has patents and facilities that total approximately $16.8mn. The statement also clarified that, as of April 7 Moll was fully capable of supplying orders and continuing business despite the bankruptcy proceedings. 

 

 

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